Univec Inc (UNVC)

[up4more]

Commonly, the process of a corporate name change occurs at the next shareholder meeting so as to avoid the typically arduous process of calling a separate meeting just to change the name of the company.

A Quicker, Less Painful Option

For firms incorporated in Delaware–of which a good majority are–there is a much faster and ultimately less painful option for enacting a corporate name change. In 1998 Delaware passed a law which allows a public shell corporation establish a new wholly owned subsidiary and permits the a short-form merger effectively changing the name of the business to the new, more desirable name. This process requires no shareholder approval as long as the parent owns more than 80% of the newly formed subsidiary. The newly formed entity can, under Delaware law, become the sole surviving entity in the merger and the new entity is allowed to adopt and keep the legal name of the sub.

When the OTC changes the name there will be no more questions left to ask. Lol.